Investors will receive stock offers in Aurora with a value of CAD $24 per CanniMed share. The offer is an increase of 57 percent over CanniMed’s final closing price from before Aurora’s offer. Aurora has the support of investors holding 38 percent of CanniMed shares for the merger. To further complicate things, Aurora told investors that the Newstrike deal is “oppressive.” They cited the CAD $9.5 million termination fee CanniMed would have to pay if they went with an alternative deal.

The kerfuffle was good news for investors, as shares of all three companies rose on word of the takeover. CanniMed was up 4.5 percent, Aurora was up 2.7 percent, and Newstrike was up 14 percent. A CanniMed spokesperson said the company has no immediate comment at this time.

McKesson Turns Maricann Into Cannabis Gold

McKesson is the largest pharmaceutical distributor in the U.S. and Canada. They are aiming to make medical marijuana grower Maricann (CNQ:MARI) a name in the cannabis market. A recent partnership deal between the two has made Maricann one of the hottest stocks in Canada.

Maricann only received a stock market listing this past April. Their model is direct patient sales, a strategy that brought in $4 million dollars last year. Current projections for 2018 are $23 billion. With the McKesson deal, Maricann now has a distribution channel through local pharmacies. The move has investors taking a second look at the growing company.

Experts believe that Maricann is undervalued at present. It is a well-financed company that is selling at a 50 to 60 percent discount to others in the marijuana industry. This is according to the MMJ Reporter. Canaccord Genuity named Maricann one of its “Top Picks” among marijuana stocks for the year.

“What started out as a humorous and seemingly innocuous one-off index inclusion of Canopy Growth (WEED) Canada’s largest marijuana stock turned into a serious problem for Canadian fund managers deciding whether to include marijuana stocks in active and passive mandates,” TD Securities wrote in a recent bulletin.

Sunniva Inc. is the first cannabis stock to hold an IPO following new regulations in Canada. The Vancouver company owns a California greenhouse. In the U.S. marijuana is illegal at the federal level. Regulators outlined warnings for investors looking towards cannabis firms with U.S. holdings. Sunniva recently received conditional approval for listing on the Canadian Stock Exchange.

IC Potash Corp. (TSX:ICP) (OTCQB:ICPTF) will move from the Toronto Stock Exchange at the the CSE on Thursday, November 23. The company expects to change its name and receive a new stock ticker symbol prior to the move. ICP’s subsidiary, ICP Organics’, works in the research, development and investment in the fertilizer and medical cannabis sectors.